Revenue Management

Introduction

This course will provide participants with the knowledge, skills, and competencies required to develop and execute strategic revenue management processes in hospitality organizations. Participants will learn how to integrate multiple data sources and analyze them to improve hotel performance through price optimization, demand forecasting, availability control, and inventory allocation.

Who Should Attend?

Front Office Manager, Revenue Manager, Sales and Marketing Manager, Operation Manager.

Organization

Outcome

Upon completion of the course, participants will be able to:

- Understand the key concepts of Revenue Management and its application of tactics and strategies to maximize hotel’s revenue opportunities
- Learn how to systematically apply proper processing tools to enhance hotel revenue

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No Topic Topic Description
1 Performance Measurement
  • Internal Measures: Revenue, Occupancy %, Average Daily Rate, RevPAR, Contribution Margin, Identical Net Revenue, Marginal Revenue Consideration, GOPPAR, Other Measures
  • External Measures: Competitive Set, Market Share

 

2 Tactical Revenue Management
  • Forecasting: Forecasting Demand, Forecasting Room Availability
  • Tactical Rate Management: Rate Structure, Tactical Discounting, Dynamic Pricing
  • Stay (Duration) Control: Minimum Stay Requirement, Stay Through, Close to Arrival
  • Capacity Management: Overbooking
  • Displacement Analysis
3 Strategic Revenue Management
  • Demand Generation
  • Marketing Strategies: Marketing Segmentation, Market Targeting, Market Positioning, Market Mix Management ‘
  • Strategic Pricing: Competing on Price, Rate Parity
  • Revenue Streams Management
  • Strategic Packaging
  • Distribution Channel Management: Voice, GDS, Internet
4 E-Commerce & Distribution Channel Management
  • Type of distribution channel
  • Definition of e-commerce & site category
  • Distribution channel management
5 Food & Beverage Revenue Management
  • Menu Pricing Methods: Product Cost Percentage, Product Cost Plus, Contribution Margin
  • Differential Pricing
  • Factors Affecting Value Perceptions
  • Revenue Generating Efficiency
  • Who Should Attend
  • Front Office Manager, Revenue Manager, Sales and Marketing Manager, Operation Manager

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